The Democratic dominated U.S. Senate on Wednesday voted to approve the $3.4 trillion fiscal 2010 budget compromise. This has brought in a big political victory for President Barack Obama on his 100th day in office.

With no Republican support, the Senate voted 53-43 for the budget which sets parameters for spending and tax legislation for the upcoming fiscal year that begins October 1. The House of Representatives earlier on Wednesday approved the budget also on a party-line vote.

Now, does this mean the end of the recession is around the corner? Does this mean that once the spending starts as per the budget, the recession will go away and the confidence will bounce back? We need to wait and see for the answers to come.